Molecular Imaging Market to Hit USD 12.5 Billion by 2032, Driven by Growing Demand for Early Disease Diagnosis and Personalized Medicine | SNS Insider

SNS Insider Report Highlights 4.5% CAGR from 2024 to 2032 as Technological Innovations Propel Market Expansion in Oncology, Neurology, and Cardiovascular Applications.

Austin, April 10, 2025 (GLOBE NEWSWIRE) — Molecular Imaging Market Size & Growth Analysis:

According to the latest report by SNS Insider, the Molecular Imaging Market was valued at USD 8.47 billion in 2023 and is projected to reach USD 12.5 billion by 2032, expanding at a CAGR of 4.5% during the forecast period of 2024-2032. The rising demand for precision medicine, increasing incidence of cancer and neurological disorders, and rapid advances in imaging agents and instrumentation are fueling market growth

Market Overview

Molecular imaging is a vital element of modern medicine providing non-invasive visualization of complex biological processes at the molecular and cellular levels. The increasing prevalence of cancer, cardiovascular diseases, and neurological disorders is a key factor driving the demand for advanced diagnostic techniques. In 2023, the U.S. accounted for approximately 76% share of the North American molecular imaging market, driven by robust healthcare infrastructure, high adoption of advanced imaging technologies, and substantial government funding for medical research. In 2023, the National Institutes of Health (NIH) invested USD 2.5 billion in cancer research, including the development of molecular imaging, which would further accelerate the market growth.

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Key Molecular Imaging Companies Profiled in the Report

• GE Healthcare (Discovery MI, PET/CT Scanner)
• Siemens Healthineers (Biograph mMR, Somatom PET-CT Scanner)
• Philips Healthcare (Allegra PET/MR, PET/CT Scanner)
• Canon Medical Systems Corporation (Vantage Galan 3T, Aquilion CT)
• Elekta AB (Unity MR-Linac, Elekta Synergy)
• Medtronic (HIFU, Cryoablation)
• Thermo Fisher Scientific (Tri-Carb, Femtosecond Laser Systems)
• PerkinElmer (IVIS Spectrum, VICTOR Nivo)
• Invivo (a part of Philips) (MRI Coil, PET/CT Scan)
• Hitachi Medical Systems (PET Scanner, HITACHI AIRIS V)

Molecular Imaging Market Report Scope

Report Attributes	Details
Market Size in 2023	US$ 8.47 billion
Market Size by 2032	US$ 12.5 billion
CAGR	CAGR of 4.5% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Modality

In 2023, the Single-Photon Emission Computed Tomography (SPECT) segment acquired a 42% revenue share of the market because of its application in cardiology, oncology, and neurology. SPECT is a cost-effective modality with high-resolution functional imaging capabilities and is well-suited for myocardial perfusion, bone, and brain imaging. Recent improvements, like hybrid SPECT/CT systems, have also increased diagnostic accuracy, further driving uptake. Moreover, the availability of radiopharmaceuticals and the increasing incidence of cardiovascular diseases will boost the segment growth. High Explorer, Lowe, and Weston are focusing on the growth of portable SPECT systems, which will provide enhanced access in remote healthcare settings. The integration of AI for image analysis is also expected to propel market expansion in the coming years.

By Application

The oncology application segment held the largest share, 32%, by application segment, of the market in 2023 due to the increasing prevalence of cancer worldwide. Molecular imaging modalities such as PET-CT and SPECT are of utmost importance in the early staging of tumors and in monitoring disease treatment response. According to the World Health Organization (WHO), there were 20 million new cases of cancer in 2023, highlighting the necessity for accurate diagnostic technologies. Imaging efficacy has also improved substantially with the development of targeted radiotracers for prostate, breast, and lung cancers. Growing adoption of theranostics that encompasses diagnostics and therapy is further driving segment growth. Government measures for enhancing cancer screening programs and rising research funding for developing innovative imaging biomarkers are expected to maintain the dominance of this segment.

By End-Use

In 2023, hospitals held the highest share of 48% owing to high patient inflow and advanced imaging facilities. The integration of AI-powered imaging systems in hospitals has streamlined workflow and improved diagnostic precision. In addition, rising partnerships among hospitals and diagnostic centers for early detection of the disease have only contributed to this segment’s dominance. The growing volume of diagnostic imaging procedures along with the expansion of hospital infrastructure in developing countries is driving growth. Also, hybrid imaging systems (e.g., PET-MRI) in tertiary care hospitals are facilitating diagnosis. Government investments in healthcare infrastructure and the growing demand for personalized medicine are expected to bolster hospital-based molecular imaging in the forecast period.

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Molecular Imaging Market Segmentation

By Modality

• Molecular Ultrasound Imaging
• Positron Emission Tomography (PET)
• Single Photon Emission Computed Tomography (SPECT)
• Nuclear Magnetic Resonance (NMR) Spectrometer
• Other Modalities

By Application

• Cardiovascular
• Neurology
• Oncology
• Respirator
• Gastrointestinal

By End-use

• Hospitals
• Diagnostic Imaging Centers
• Research Institutes

Regional Analysis

In 2023, North America accounted for the largest market share 43%, due to high healthcare expenditure, strong government involvement, and the presence of key market players such as GE Healthcare and Siemens Healthineers. A significant share of global revenue belonged to the U.S. in the backdrop of growing FDA approvals for both novel imaging agents and systems. The NIH’s USD 1.8 billion initiative in 2024 for neurological disorder research further underscores regional dominance. Europe came close behind, with Germany and the UK leading the pack as a result of more favorable reimbursement policies and rising cancer prevalence. Horizon Europe, the European Commission funding program for molecular imaging projects, is particularly focused on oncology and neurodegenerative diseases.

The Asia-Pacific region is estimated to be the fastest-growing market due to the development of healthcare infrastructure and more investments in diagnostic technologies at a high rate in countries such as India, Japan, and China. China’s “Healthy China 2030” initiative and India’s expanding private healthcare sector are key growth catalysts. Japan’s high cancer incidence and aging population are also increasing demand.

Recent Developments

• In 2023, the FDA approved Siemens Healthineers’ new PET-CT scanner, enhancing imaging resolution for early cancer detection.
• GE Healthcare launched a next-generation SPECT/CT system in late 2023, improving diagnostic efficiency in cardiology and oncology.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence of Target Diseases (2023)

5.2 Adoption Rates and Technological Advancements (2023)

5.3 Imaging Device Volume and Usage Trends (2020–2032)

5.4 Healthcare Expenditure on Molecular Imaging (2023)

6. Competitive Landscape

7. Molecular Imaging Market by Modality

8. Molecular Imaging Market by Application

9. Molecular Imaging Market by End-use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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